H&M opens 12th Bucharest store this September

Swedish fashion retailer H&M (Hennes & Mauritz) will open on September 4 a new store in Bucharest which will be located on the grounds of the Vulcan Value Center shopping center. The new store is the 12th outlet the retailer operates in the capital and will have a sales area of over 1,700 sqm.

Countrywide, H&M presently has a network of 35 stores.

The first local H&M store was opened in March in 2011 in AFI Palace Cotroceni in Bucharest. Since then the retailer has expanded countrywide to cities such as Brasov, Cluj, Timisoara, Oradea, Constanta, Arad, Craiova, Braila, Iasi, Suceava and Sibiu.

H&M Romania saw sales go up in the first quarter of the current fiscal year (December 2013 – May 2014) by 34 percent, to EUR 61 million, according to Mediafax. In RON, H&M’s sales were up 30 percent, including VAT.

During this time, the Swedish retailer opened 7 new stores and reached a network of 35 units on the local market, according to a press release from the company.

Read more about

How To Develop Marketplace And Start Earning

read more

In the second quarter of the fiscal year, March – May 2014, H&M Romania registered a 36 percent increase of sales to EUR 33.4 million. Five new stores were opened during this time.

In 2013, H&M sales crossed the EUR 100 million threshold and the retailer obtained EUR 5.4 million in net profit, up 52 percent.

Vulcan Value Center is developed by real estate investment fund New Europe Property Investments (NEPI) and will be opened this autumn in south-west Bucharest following a EUR 47 million investment. The shopping center has a 35,000 sqm GLA.

Simona Bazavan